Source: Sharecast
The FTSE 100 closed up 0.1% at 10,695.25 , while Brent crude was down 0.2% at $106.42 a barrel and West Texas Intermediate was 0.6% lower at $94.09, having fallen further earlier in the session amid growing hopes that US and Iranian negotiators, who are currently meeting in New York, will be able to find a path forward.
Investors were also mulling a meeting between US President Donald Trump and China’s Xi Jinping in Washington.
Dan Coatsworth, head of markets at AJ Bell, said: "A seemingly amicable meeting between Donald Trump and Xi Jinping was taken as a win, given the fragile relationship between the US and China in recent years. The fact the two leaders were able to meet without any uproar is significant from a geopolitical perspective.
"Xi saying that China and the US must ‘coexist in peace’ was positive, yet some might argue the whole event was more style over substance. Those hoping for progress on matters relating to AI, trade, Taiwan and Iran are still sitting on the edge of their seat, so far unfulfilled."
Closer to home, and the latest consumer confidence index from GfK, part of the Nuremberg Institute for Market Decisions, came in at -13, up one point on August and the third consecutive month of rises. Economists had expected a slight dip.
Respondents were more confident about their current financial situation and the wider economy, as well as being more optimistic about the coming year. Both the forward-looking personal financial situation and general economic situation sub-indices rose by one point each, to 5 and -22 respectively.
However, the major purchase index dipped one point to -8, while the savings index was up 5 at 27. The savings index is not used to calculate the overall consumer confidence barometer but provides a measure of household’s spending intentions.
In equity markets, property developer Harworth jumped as it accepted a sweetened and final 187p-a-share offer from Peel Group, a week after rejecting a bid pitched at 177.5p. Peel also revealed it had agreed to buy around 72m shares at the higher price, taking its stake beyond 52%.
Ferrexpo surged despite posting a slide in production and revenues, following another "exceptionally difficult" period for the besieged iron ore specialist.
United Utilities was little changed as it reaffirmed its guidance for 2026/27, and said it was continuing to target regulatory returns of 10% to 11% in the current framework period.
On the downside, Ithaca Energy, BP, Shell, Harbour Energy and Energean all fell in tandem with oil prices.
Raspberry Pi tumbled, having gained sharply on Thursday after it lifted its full-year profit outlook and hailed record first-half profit and revenue, pointing to strong OEM and reseller demand and increased unit shipments.
In broker note action, HSBC upgraded BP to ‘buy’ and UBS lifted Glencore to ‘buy’.
Market Movers
FTSE 100 (UKX) 10,695.25 0.14%
FTSE 250 (MCX) 24,261.14 0.44%
techMARK (TASX) 6,180.25 0.73%
FTSE 100 - Risers
Metlen Energy & Metals (MTLN) 48.04p 3.32%
Lion Finance Group (BGEO) 14,580.00p 3.26%
Computacenter (CCC) 5,410.00p 3.24%
Pershing Square Holdings Ltd NPV (PSH) 3,722.00p 2.76%
Fresnillo (FRES) 2,890.00p 2.37%
Glencore (GLEN) 561.10p 2.20%
Smiths Group (SMIN) 2,816.00p 2.14%
Standard Chartered (STAN) 2,313.00p 2.03%
Abrdn (ABDN) 245.60p 1.91%
Barratt Redrow (BTRW) 309.00p 1.88%
FTSE 100 - Fallers
Ithaca Energy (ITH) 285.40p -3.58%
BP (BP.) 558.50p -2.36%
Bunzl (BNZL) 2,638.00p -1.86%
British American Tobacco (BATS) 4,180.00p -1.48%
GSK (GSK) 1,851.00p -1.39%
Imperial Brands (IMB) 2,442.00p -1.33%
Centrica (CNA) 147.40p -1.27%
Convatec Group (CTEC) 209.40p -1.13%
Airtel Africa (AAF) 299.60p -0.99%
Experian (EXPN) 2,610.00p -0.99%
FTSE 250 - Risers
Ceres Power Holdings (CWR) 417.80p 6.64%
Oakley Capital Investments Limited (DI) (OCI) 528.00p 5.92%
Harworth Group (HWG) 187.00p 4.70%
Greggs (GRG) 1,861.00p 4.02%
Oxford Nanopore Technologies (ONT) 181.60p 3.65%
Syncona Limited NPV (SYNC) 122.00p 3.57%
Oxford Biomedica (OXB) 507.00p 3.47%
Shawbrook Group (SHAW) 310.00p 3.28%
Hill and Smith (HILS) 3,250.00p 3.17%
Victrex plc (VCT) 905.00p 3.08%
FTSE 250 - Fallers
Raspberry PI Holdings (RPI) 711.50p -4.93%
Harbour Energy (HBR) 267.60p -4.63%
SDCL Efficiency Income Trust (SEIT) 34.60p -4.55%
Energean (ENOG) 718.00p -4.07%
Baltic Classifieds Group (BCG) 2.05p -2.38%
Inchcape (INCH) 770.00p -2.04%
Hikma Pharmaceuticals (HIK) 1,590.00p -1.97%
Rightmove (RMV) 440.90p -1.58%
Mony Group (MONY) 177.30p -1.23%
CVS Group (CVSG) 1,208.00p -1.06%